Business
TherapeuticsMD® Announces Second Quarter 2020 Financial Results
- 2Q20 total net product revenue of $10.7 million resilient despite COVID-19 pandemic - - ANNOVERA® prescriptions increased approximately 100% for the eight
About this update from Therapeuticsmd, Inc.
[{"type":"text","content":"\n- 2Q20 total net product revenue of $10.7 million resilient despite COVID-19 pandemic -\n\n\n- ANNOVERA® prescriptions increased approximately 100% for the eight weeks ended July 24, 2020 over the previous eight week period-\n\n\n- IMVEXXY® new prescriptions increased 33% for the eight weeks ended July 24, 2020 over the previous eight week period-\n\n\n- Consumer campaign for ANNOVERA achieved over 3 million unique views in first 30 days -\n\n\n- Initial consumer marketing campaign for IMVEXXY to be launched in August -\n\n\n- Amended Sixth Street Partners revenue covenants to reflect impact of COVID-19 pandemic -\n\n\n- Conference call scheduled for 8:30 a.m. ET today -\n\n BOCA RATON, Fla.--(BUSINESS WIRE)--\nTherapeuticsMD, Inc. (NASDAQ: TXMD), an innovative, leading women’s healthcare company, today reported financial results for the second quarter ended June 30, 2020.\n\n\n“Our organization made significant progress in the second quarter while navigating the COVID-19 pandemic and its impact on our business,” said Robert G. Finizio, Chief Executive Officer of TherapeuticsMD. “We delivered a strong quarter of operational execution during very unique circumstances, quickly reducing our operating expenses, reorienting our sales force, and addressing our credit facility future minimum net revenue covenants. These strategic and operational changes and our reshaped Board of Directors and management team are focused on driving revenue and achieving our goal of reaching EBITDA break even in 2021, which we believe will result in long-term shareholder value.”\n\n\nRecent Updates\n\n\n\nPrescription volume for ANNOVERA (segesterone acetate and ethinyl estradiol vaginal system) for the eight weeks ended July 24, 2020 increased approximately 100% over the previous eight weeks (the time period most heavily impacted by COVID-19). ANNOVERA current prescription trend exceeds the product’s pre-COVID-19 launch trajectory.\n\n\nThe Company initiated the direct-to-consumer marketing campaign for ANNOVERA on July 1, 2020. Digital metrics show that the “Unapologetically ANNOVERA” campaign has quickly gained visibility resulting in over 100 million impressions and 3 million unique views since launch.\n\n\nThe Company is working with the Department of Defense, public health organizations, and telehealth platforms to expand access to women and cont...